CHAPTER 9 - ASSIGNMENTS Saved Help Save & Exit Submit Check my work 2 Exercise 9-13 (Static) Prepare a Flexible Budget Performance Report [LO9-4] 10 Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following points table provides estimates concerning the company's costs: Fixed Cost Cost per eBook per Month Car Washed Cleaning supplies $ 0.80 Print Electricity $ 1, 200 $ 0.15 Maintenance $ 0.20 References Wages and salaries Ooo's $ $ 0.30 Depreciation 000'9 $ Rent $ 8,000 Administrative expenses $ 0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement Mc Graw HillCHAPTER 9 - ASSIGNMENTS Saved Help Save & Exit Submit Check my work 2 August and to collect an average of $4.90 per car washed. The actual operating results for August are as follows: Lavage Rapide 10 Income Statement points For the Month Ended August 31 Actual cars washed 8,800 Revenue $ 43, 080 eBook Expenses : Cleaning supplies 7, 560 Print Electricity 2, 670 Maintenance 2, 260 References Wages and salaries 8, 500 Depreciation 6, 006 Rent 8, 080 Administrative expenses 4,950 Total expense 39,940 Net operating income $ 3,140 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Mc Graw HillCHAPTER 9 - ASSIGNMENTS i Saved Help Save & Exit Submit Check my work 2 Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 10 Actual Revenue and Spending Flexible Planning Results Variances Budget Activity Variances Budget points 8,800 8,800 $ 43,080 $ 40 U $ 43,120 eBook Print supplies 7,560 520 U 7,040 References 2,670 150 U 2,520 ice 2,260 500 U 1,760 d salaries 8,500 860 0 7,640 ion 6,000 0 None 6,000 8,000 0 None 8,000 ative expenses 4,950 70 U 4,880 e 39,940 2,100 U 37,840 g income $ 3, 140 $ 2,140 U $ 5,280 Mc Graw Hill